Credit constraints for German trade and industry edged downwards in August. 19.7% of the companies surveyed reported restrictive access to bank credit. The number of firms reporting credit constraints has not risen above a third in over three years. Companies are enjoying a constantly favourable financial environment as a result.
After last month's increase, credit constraints in manufacturing dropped back down to 18.2%. A decrease was also seen for large and medium-sized companies. Only small companies reported a slight increase, with 23% reporting problems in obtaining credit from their banks.
In the construction sector credit constraints increased minimally by 0.1 percentage points to 23.9%. A slightly higher number of firms in trade also reported more restrictive access to bank financing.
